Defiance Daily Target 2X Short MU ETF (MUZ)

The Defiance Daily Target 2X Short MU ETF is a leveraged exchange-traded fund from Defiance ETFs that seeks daily investment results equal to -200% (minus two times) the daily performance of the common stock of Micron Technology (MU).

The fund is designed to rise in value when the underlying stock falls on a given day, and the objective applies to a single trading day only. It obtains its short exposure mainly through swap agreements, and because the exposure is reset daily, results over longer holding periods can differ markedly from minus two times the stock's cumulative return. The fund is listed on NYSE Arca.